Tuesday, March 1, 2011

Asian markets

Asian markets have traded on a positive tone on Tuesday, with investors sentiment lifted by steadier oil prices and Chinese manufacturing figures which have eased concerns about further monetary tightening. In currency markets, the Dollar picked up against the Yen.

Japanese Nikkei Index advanced 1.1% while the Hong Kong Hang Seng Index added 0.1% and Australian ASX Index edged 0.1% lower. Chinese Shangai Composite Index rose 0.6%. Markets in Taiwan, Singapore and India have traded higher, while the South Korean Kospi Index was closed for bank holidays.

On the macroeconomic front, Chinese Manufacturing PMI eased to 59.2 in February from 59.9 in January, while the HSBC PMI for February dropped to 51.7 from 54.5. A significant slowdown on manufacturing activity, which suggest that Chinese government's efforts to cool off the country's economy might be starting to catch up.

Dollar ticks up against Yen

USD/JPY retreat from 84.00 area last week extended to 81.60 area, to test uptrend support line from November lows, where the pair found demand to puck up on Asian session, returning above 82.00 to reach 82.25 high ahead of Europe.

EUR/USD bounced yesterday at 1.3710 support area and the pair rose on European session, favoured by higher inflation in the Euro Area, to cap at 1.3860 resistance area, and consolidate at 1.3800/30 during Asian session.

GBP/USD retreat from 1.6275 high last week found support on Friday at 1.6030 low, and the Sterling soared on Monday to retrace the previous three days' decline and consolidate below 1.6300 during Asian session.

source: http://www.fxstreet.com
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35 comments:

  1. BlowingInTheWindMarch 1, 2011 at 4:11 AM

    My girlfriends sister wants to move to Japan, from england, not really currency related i know... but shes learning the langauge and the currency =]

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  2. NateMarch 1, 2011 at 7:10 AM

    Time is now to invest.

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  3. Aaron M. GipsonMarch 1, 2011 at 7:31 AM

    So for the last couple of days, it seems like the dollar is starting to gain traction again. Could this be the sign of a continuing trend? I know I have a lot invested dollar wise, and as it is the currency of my home country, I'd like to see do well. I've been hearing nothing but horror stories since the crash of 2008...

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  4. metaphysicalfarmsMarch 1, 2011 at 8:10 AM

    The Asian markets always are a mystery to me. Thanks for the update!

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  5. nooneMarch 1, 2011 at 9:47 AM

    japanese index keeps growing... looks like a growing market..

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  6. MoobeatMarch 1, 2011 at 11:01 AM

    great advice

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  7. AnonymousMarch 1, 2011 at 11:23 AM

    Thanks for the update! Does it make me a dork that I check your blog for these things?

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  8. PekkaKMarch 1, 2011 at 11:47 AM

    Dollar will be in trouble soon :/

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  9. FourraMarch 1, 2011 at 11:47 AM

    its time to buy yuan and vietnamese dong !!

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  10. AnonymousMarch 1, 2011 at 12:06 PM

    The Asian have always had a positive tone, I don't think I have even seen them actually drop once except for lead.

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  11. AnonymousMarch 1, 2011 at 12:07 PM

    This is going to help with my holidays.

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  12. Eric PMarch 1, 2011 at 12:08 PM

    I heard yesterday that the markets were due to shoot upwards after the oil prices stabilised yesterday after weeks of gains from the turmoil in the middle east.

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  13. AnonymousMarch 1, 2011 at 12:42 PM

    go GBP!

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  14. ChuckMarch 1, 2011 at 3:34 PM

    declining Sterling makes me sad :(

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  15. edMarch 1, 2011 at 3:39 PM

    yea the asian markets always been growing

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  16. Chris C.March 1, 2011 at 5:29 PM

    Thanks for keeping us informed!

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  17. ChrisMarch 1, 2011 at 7:33 PM

    I lulzed at south koreans spreading leaflets of middle east unrest in north korea.

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  18. Blog Master FlexMarch 1, 2011 at 9:22 PM

    Hmmm asians confuse me. Could you do a post on petrol/gas prices?

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  19. Melodic MayhemMarch 1, 2011 at 10:07 PM

    Will Asian dominance add pressure towards the Amero?

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  20. Nik MekeenaMarch 1, 2011 at 10:24 PM

    great info to know

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  21. UnknownMarch 2, 2011 at 1:13 AM

    thanks for the update

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  22. synoptixsMarch 2, 2011 at 1:20 AM

    yay for the asia market!

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  23. SpikeMarch 2, 2011 at 3:05 AM

    thats pretty interesting, thanks as always

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  24. MarijnMarch 2, 2011 at 6:12 AM

    I've always been interested in the Asians

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  25. FishosMarch 2, 2011 at 9:06 AM

    very informative, i'll be sure to follow your blog

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  26. metaphysicalfarmsMarch 2, 2011 at 9:46 AM

    Asia is realizing just how connected they are becoming to the world market. I wonder when they will start fully joining it in a meaningful way

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  27. AnonymousMarch 2, 2011 at 10:44 AM

    The market is so interesting.

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  28. Jessica ThompsonMarch 2, 2011 at 11:05 AM

    Love finance blogs. Followed!
    alphabetalife.blogspot.com

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  29. PekkaKMarch 2, 2011 at 12:00 PM

    Don't know much about Asian market

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  30. Gamer_BlakeMarch 2, 2011 at 3:41 PM

    wow goodbye the dollar , nice site you have, deffs following :)

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  31. DaemonMarch 2, 2011 at 3:48 PM

    Oh boy... :S

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  32. rlabMarch 2, 2011 at 4:19 PM

    awesome blog!

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  33. HaliChapMarch 2, 2011 at 5:44 PM

    Solid update. Im still watching ES 1300. Holding decently.

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  34. MattMarch 2, 2011 at 6:54 PM

    Interesting. Like usual, thanks for the info; I wish I could tell you what the future will bring!

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  35. Patti D.March 3, 2011 at 1:28 AM

    let's see if things start to get better

    ReplyDelete

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